Magnum Options Binary Option Broker Review

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Magnum Options Review

Trading Platform Magnum Options

Magnum Options makes use of the SpotOption trading platform, which is one of the most common trading platforms in the market thanks to its simplicity and flexibility. It is so easy that even rookie users won’t find themselves having problems navigating and performing trade functions and processes with SpotOption.

Magnum Option’s trading platform has notable features such as “Close Now” or “Extend” giving traders the ability to halt transactions or stretch them as they see fit.

  • 4 types of trades with large number of underlying assets
  • Choices of different types of trading accounts
  • Good coverage of Market Review
  • High Payout Ratios
  • Numerous bonuses
  • Rebates for Out-of-the-Money trades
  • Secured with SSL Technology
  • User Friendly and Reliable Trading Platform
  • Based in a relatively unknown regulatory environment

Platform type: SpotOption

Platform Languages: Italian

OS Compatibility: iOS, Windows

Streaming News Feed: Yes

Email Alerts: No

Mobile Alerts: No

Company information Magnum Options

Located in: British Anguilla

Website: http://www.magnumoptions.com/

Founded in: 2020

Accepts US Clients: Yes

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Phone number: 1-855-217-4642

Email: [email protected]

Account Options Magnum Options

Commission:

Minimum Deposit: $200

Payouts Percentage: 85%

Deposit Options: Credit Card, Debit Card, Bank Wire Transfer, CashU

Withdrawal Options: Credit Card, Debit Card

Payout Ratios: 75%

Available Assets Magnum Options

Forex, Metals, Oil, Gold, Indices, Stocks, Commodities

What Support Does This Vendor Offer?

  • email
  • phone
  • live support
  • training
  • tickets

Customer Support Languages: English, Italian

Customer Service Hours:

Place Trades Over the Phone?: No

Magnum Options Trade types

Magnum Option offers the following trade types:

  • Classic Binary Options
  • One Touch Options
  • Option Builder
  • 60 Second Options
  • Option Pro

Magnum Options Trade accounts

Magnum Options offers the folllowing trading accounts:

  • Standard Account
  • Premium Account
  • Executive Account
  • Magnum Elite

Magnum Options Position In Our Categories

Position of Magnum Options in our main categories:

Magnum Options is one of the top 50 Binary Options Brokers products

If you are considering Magnum Options it could also be sensible to examine other subcategories of Binary Options Brokers listed in our base of B2B software reviews.

It is essential to realize that almost no service in the Binary Options Brokers category will be an ideal solution able to fulfill all the requirements of various investors. It may be a good idea to read a few Magnum Options reviews first as certain solutions might actually dominate only in a specific geography or situation or be prepared with a really specific customer in mind. Others might operate with a goal of being easy and intuitive and therefore lack complicated functionalities desired by more experienced users. You can also come across services that cater to a broad group of customers and give you a powerful feature set, but this usually comes at a higher cost of such a service. Ensure you’re aware of your requirements so that you get a service that has all the functionalities you search for.

User Satisfaction

We realize that when you make a decision to buy Binary Options Brokers it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Magnum Options reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with Magnum Options. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

Magnum Options Broker Review

This broker is closed for South Africa.

Magnum Options General Info

Magnum Options is one of the best and reliable brokers in binary industry with HQ in Gibraltar. Established back in 2020 and with remake in 2020, this broker offers trading a lot of trading instruments and features for them to have a successful binary options experience.

Magnum Options is operated by Redtulips Consultants Ltd. Further about Magnum Options and available service you can read below in our Magnum Options review.

Magnum Options Trading Platform

While reviewing this broker, we found out in Magnum Options review that they use SpotOption as its chosen software. This is well known and popular software, used in binary options industry. With this software, Magnum Options provides its traders in South Africa a excellent trading environment with simplicity in using the platform because of high technology use.

To begin trading with Magnum Options, minimum deposit is $200 while maximum amount is $20000 if traders use credit card and unlimited for those who invest via bank wire.

Highest bonus amount can reach $10000 and maximum possible return with this broker is 81%. Traders are free to make payment with EUR, USD, GBP, AUD and CAD. The chosen currency when depositing has to remain the same as in the withdrawal process. Minimum and maximum investments are set to $5 and $10000.

For more trading features and account types, check below in Magnum Options review.

Magnum Options Trading Features

Traders in South Africa and worldwide can place trades with many different underlying assets, including stocks, currencies, commodities and indices. Together, there are more than 100 of assets, available for traders to use them.

Magnum Options offers traders a wide range of trade options, such as 60 Seconds, High/Low, One Touch, Pair Options, Long Term and Ladder Options. Traders can however, choose different expiry time when trading binary options, which include following: 15 seconds, 30 seconds, 60 seconds, 2 minutes, 5 minutes, 1 hr and 24 hr. Such a variety of trade options are always welcome and we have a pleasure to offer them in our Magnum Options review.

60 Second option is very popular trade variant in binary options industry, due to its possibility to place trades on smaller amounts but with the super fast expiry, such as 60 seconds. One Touch options enables traders to maximize profit by following settings; trade is successful when price of an asset reaches the target price.

Ladder options are options that allow traders to make trades several time in a row, while value of an asset rises. It’s called Ladder because it is very much looks like ladder climbing. Returns are astonishing and can be higher than 1000%.

Traders in South Africa have on disposal when trading binary options a wide selection of trading tools and service. Some of them we explained and others are very useful features, such as Rollover and Double Up strategies. Rollover allows traders worldwide to postpone expiration time of an asset if they believe their predictions are not going to be on target. This can be done at least 10 minutes before an asset expires.

The second strategy, a Double Up is used to multiply a trade. If traders are convinced they are on good track, they can activate Double Up button and make a new trade, but under same conditions as with the previous trade.

Also, a very popular service, provided by Magnum Options is mobile trading. With Magnum Options mobile app, traders can trade binary options when they are on the go. This app is compatible with both Android and Apple systems and traders should have no difficulties in its use. Magnum Options trading platform is available only on English.

Magnum Options Trading Accounts

We were pleasantly surprised when we saw in Magnum Options review how this broker offers traders in South Africa 5 account types with different features and services. These accounts are: Mini, Starter, Silver, Gold and Platinum account.

Mini Account ($500)

  • 25% bonus
  • starter webinars and educational trading videos
  • ebook

Starter Account ($1000)

  • 30% bonus
  • starter webinars and educational trading videos
  • ebook
  • market expert call
  • received market reviews through email

Silver Account ($5000)

  • 50% bonus
  • 1 risk free trade
  • starter webinars and educational trading videos
  • ebook
  • market expert call
  • received market reviews through email
  • Account manager
  • 1 academy session

Gold Account ($10000)

  • 75% bonus
  • 3 risk free trades
  • 1 guaranteed profit trade
  • starter webinars and educational trading videos
  • ebook
  • market expert call
  • received market reviews through email
  • Account manager
  • 2 academy sessions
  • signal webinars

Platinum Account ($25000)

  • 100% bonus
  • 5 risk free trades
  • 3 guaranteed profit trades
  • starter webinars and educational trading videos
  • ebook
  • market expert call
  • received market reviews through email
  • Account manager
  • 5 academy sessions
  • signal webinars
  • personal contact with broker
  • signals received by email on weekly basis
  • withdrawal approval on the same day

Magnum Options Customer Support

Traders can enjoy in availability of Magnum Options customer service 24/7. They provide following communication ways, through email [email protected] , live chat, web form and telephone.

Magnum Options under section Academy offers traders exquisite sources of trading courses for beginners and advanced traders, a variety of guide articles, webinars and different tutorials. All these materials can be used when trading binary options and can serve as great help to achieve high payouts in the trading process. Also, traders can use FAQ to find answers on different topics in each step of trading process.

Magnum Options Banking Info

To protect personal and financial data of their traders, Magnum Options uses SSL security system that encrypts data. It is the best way to protect data and valuable information for each trader in binary options trading. Security is always very important, especially in deposit and withdrawal process. For more about deposit/withdrawal process, read below in Magnum Options review.

Magnum Options accepts deposit methods done via debit and credit cards (Visa, Visa Electron and Mastercard), bank wire transfer and e-wallet Neteller.

Minimum withdrawal is $100.

To withdraw funds, traders first have to submit a withdrawal request and it takes Magnum Options 3 days to process it and extra 5-7 business days for money to be available for withdrawal. To do any payment options, traders have to submit this broker few necessary documents, such as copy of photo ID, proof of address and credit card copy if one is used in the trading process.

They have to be sent on [email protected] . First withdrawal per month is free, while additional one in the same month will be charged $30.

Magnum Options Review

Magnum options is the latest binary options brokerage to go under the Binary Today review. I’ve recently received some very positive emails from my trusted readers about this brokerage so I felt I would investigate myself and see if this broker is worth the high praise.

I have to say that I am very impressed with magnum so far and this review will inform of all the information you require in order to select a worthy brokerage.

Magnum Options Review

Like to start my reviews of binary options software and brokers like Magnum options with my personal take and experiences. One of the most important things to me in trading and life is how well that I’m treated. So far, in the time I spent with Magnum I’ve been treated very well.

By this I mean multiple things. The support team has been responsive and very reliable in handling any of the concerns and questions that I’ve asked them over the past few months. During this time they have also been quick to handle my withdrawal requests which is probably the most important thing to me when dealing with the brokerage.

I’ve heard way too many stories about traders that have to beg their broker to get a withdrawal and I’m happy to say that this doesn’t happen with Magnum options. At no point that I feel like my money was at risk what did I believe that my money would be held back from me.

Recently I’ve signed up with around 20 binary options brokers and I’ve really put them all to the test. Sometimes I fake issues and give them hard questions to try and find out which brokers I would be able to trust and the long-term. Magnum options prove themselves time and time again during these tests and have earned themselves a spot in the top binary options brokers.

Magnum Options Information

Now going to discuss some of the specifics so that you know if Magnum options can serve your needs. This broker was founded in 2020, except US traders and has 150 assets. The minimum deposit to get started is $200 and they do provide demo accounts when requested. They are using the spot option platform which is the top-rated in the community for its excellent data feeds and latency speeds.

They are located in the UK, London to be specific. This is a country that does have strong trading regulations so the probability of getting scammed is minimal if not nonexistent.

One thing I like about Magnum options that other brokers don’t provide is a strategic advisor. When traders hover the mouse over the bottom left-hand corner of the chart while trading they can choose between a handful of different indicators that will automatically generated trading suggestion. I have a similar tool that I use in meta-trader four called the trade assistant that uses many of the same technical indicators. Traders can choose between RSI, Moving Averages and Bollinger Bands. Is a very interesting concept and is something that really sets them apart from other brokers. I feel like this would be really helpful when using the binary options software that I recommend here on binary today.

Final Thoughts

Magnum options has earned the binary today seal of approval. I’m at the point now where I am willing to deposit one of my larger accounts with this binary options broker because they have earned my trust.

If you don’t have a broker or you do have a broker and you don’t trust them that I suggest you change to Magnum options today. I hope that you will share your experiences on this review as well, please leave all your comments below the article now.

MAGNUM OPTIONS SUMMARY

With respect to the bonus offered by Magnum Options, we rated it at a modest 70/100 as the bonuses offered were quite generous. As for their trading software, it earned a high score of 85/100 because of all the advanced tools and features which the platform has. For support customer, this scored a modest 65/100 due to the lack of telephone and multilingual support. Finally for the options choices, Magnum Options scored 90/100 due to the wide selection of option types that are available for trading.

Intro

Operational since 2020, Magnum Options is a relatively well known binary options broker within the online binary trading community. Since its inception 4 years, this broker has grown by leaps and bounds ever since. Over the years it has built up a loyal following of loyal clients by providing them with personalized attention as well as servicing all their trading needs. With live news feeds, traders at Magnum Options will always be kept updated about current developments in the market. Regardless of one’s trading ability, every traders will no doubt enjoy a fulfilling trading experience with this broker though its intuitive trading platform and dedicated customer support team.

Company information

The Magnum Options trademark is owned by a Bulgarian based holding company called Solaris Vision limited. The binary options trading platform was founded in 2020 but only became operational in 2020. The broker’s head office is located in Sofia, Mladost 4, BI. 428, Entrance 1, Floor 1/3, Bulgaria.

Trading Platform

The trading platform adopted by Magnum Options is the SpotOption 2 nd generation platform. Because of its wide adoption by the majority of the binary brokers in the industry, some traders may prefer to deal with a broker that has a more refreshing platform rather than trade on a generic white labelled trading platform. Nevertheless, it cannot be denied that the SpotOption 2 nd generation platform is one of the most popular binary options trading platform in the industry for the simple fact that it is packed with numerous advanced trading tools and features. The bulk of these features and tools are not even available on competing trading platforms.

For example, Magnum Options’ trading platform comes with the special trading tool called the “Strategy Advisor”. With this tool, you can use popular technical indicators such as the Moving Average, Bollinger Band and RSI to help you analyze which direction prices will more within the near foreseeable future. Another unique feature of the Magnum Options’ trading platform is the ability to implement a “Ladder” trading strategy using the ladder option trading mode.

All in all, there are 8 different ways which you can trade the markets using Magnum Options’ platform. These different options types include:

  • Classic Binary (Call/Put)
  • Long Term options
  • 60 Seconds options
  • Pairs
  • Ladder
  • Fx/CFD
  • One Touch
  • Spot Follow

Mobile

Although mobile trading apps are supported by SpotOption, Magnum Options currently does not have any separate mobile trading apps to cater to smartphones users. Nevertheless, the main web based trading is still easily accessible on the web browsers of any mobile devices regardless of their operating system.

Assets available

In terms of underlying assets that are available for trading at Magnum Options, they are classified into 5 different categories, forex, commodities, stocks, indices and pairs. Currently there are a total of 174 different types of assets, 9 types of commodities, 24 forex Pairs 24, 48 different Indices, 82 types of stocks and 11 paired assets. The following table below shows the full complement of underlying assets which you can trade with.

Commodities: COFFEE, CORN, GOLD/EUR, GOLD, OIL, PLATINUM, SILVER, SUGAR, WHEAT.

Forex Pairs: AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, BitCOIN/USD, CAD/JPY, EUR/GBP, EUR/JPY, EUR/SEK, EUR/USD, GBP/CHF, GBP/JPY, GBP/USD, NZD/JPY, NZD/USD, USD/BRLC, USD/CAD, USD/CHF, USD/JPY. USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/ZAR.

Indices: ASX (AUSTRALIA), ASX FUTURE, BOMBAY SE, BOVESPA-F, CAC, CAC FUTURE, DAX (GERMANY), DAX FUTURE, DOW (US — DOW JONES INDUSTRIAL AVERAGE), DOW FUTURE, DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), EGX 30 (EGYPT), FAZ-SHORT, FTSE 100 (U.K), FTSE FUTURE, HANG SENG (HONG KONG), HANG SENG FUTURE, IBEX, IBEX FUTURE, ISE 30 (ISTANBUL STOCK EXCHANGE), JAKARTA SE, KL FUTURE, KOSPI, KUWAIT (KUWAIT GENERAL INDEX), MICEX 10 (MOSCOW INTERBANK EXCHANGE), MSM 30 (OMAN), MSM 30 (OMAN), NASDAQ (US), NASDAQ FUTURE (US — NASDAQ 100 FUTURE), NIFTY, NIKKEI FUTURE, OMXC20, PSI20, QATAR (DSM20), RTS FUTURE, S&P 500 (US), S&P FUTURE, S&P FUTURE (US S&P 500 FUTURE), SHENZHEN300, SMI FUTURE, SSE180 (SHANGHAI STOCK EXCHANGE), STRAITS TIMES, TADWUL (SAUDI STOCK EXCHANGE), TEL AVIV 25, TNA-LONGX3, TSK60, TZA-SHORTX3, VIX.

Stocks: (US THOMSON ), 3M, AIG, ALLIANZ SE, AMAZON, ANZ BANK, APPLE (US), AXIS BANK, BAE SYSTEMS (LONDON), BANCO SANTANDER, BARCLAYS, BHP BILLITON, BIDU, BLACKBERRY, BMW, BNP PARIBAS, BOEING, BP (BRITISH PETROLEUM), BRITISH TELECOM, CATERPILLAR, CITI (US — CITIGROUP), COCA COLA (US), DAIMLER AG, DANONE SA, DELL, DEUTSCHE BANK, DEUTSCHE TELCOM, DISNEY, EBAY, EXXON MOBIL, F5 NETWORKS, FACEBOOK, FIAT, FREEPORT McMoran, GAZPROM (RUSSIA), GENERAL MOTORS, GOLDMAN SACHS, GOOGLE (US), GROUPON, HSBC HOLDINGS (LONDON), IBM, JP MORGAN CHASE, LAS VEGAS SANDS, LINKEDIN, LOUIS VUITTON, LUKOIL (RUSSIA), MASTERCARD, MCDONALDS, MICROSOFT, NETFLIX, NIKE (US), NISSAN MOTORS, ORANGE S.A., PARIS TELECOM, PETROBRAS, PFIZER, PUBLICIS GROUPE, RENAULT, RIO T. VS. BHP B., RIO TINTO, RIO-AU, ROLLS ROYCE (LONDON), S BANK INDIA, SAB MILLER, SALESFORCE.COM, SBERBANK (RUSSIA).

Pairs: AMAZON VS EBAY, AMAZON VS NETFLIX, BMW VS DAIMLER, BMW VS RENAULT, FACEBOOK VS TWITTER, FTSE F VS CAC F, GOLD VS OIL, GOOGLE VS BAIDU, LINKEDIN VS TWITTER, McDONALD’S VS STARBUCKSVODAFONE VS ORANGE.

Trading Accounts, Bonuses & VIP Programs

To cater to the demographic diversity of its client base, Magnum Options has provided 5 different types of trading accounts. The accounts are categorized according to their status as Beginner account, Semi Educational account, Full Educational account, Semi Advanced account and Full Advanced account.

Beginner Account

  • $200 minimum deposit
  • Account Manager (1 Month)
  • Free eBooks
  • Free educational videos
  • Starter Webinar
  • Weekly Market reviews

Semi Educational Account

  • $5000 minimum deposit
  • 2x Academy Sessions
  • Account Manager (3 Months)
  • Daily Market reviews
  • Free eBooks
  • Free educational videos
  • Starter Webinar
  • Strategy Webinar

Full Educational Account

  • $25000 minimum deposit
  • 5x Academy Sessions
  • Account Manager (6 Months)
  • Daily Market reviews
  • Free eBooks
  • Free educational videos
  • Starter Webinar
  • Strategy Webinar
  • VIP Webinar

Semi Advanced Account

  • $50000 minimum deposit
  • 10x Academy Sessions
  • 3% Additional Payouts
  • Account Manager (12 Months)
  • Daily Market reviews
  • Free eBooks
  • Free educational videos
  • Interest on Account balance
  • Starter Webinar
  • Strategy Webinar
  • VIP Webinar

Full Advanced Account

  • $100,000+ minimum deposit
  • Unlimited Academy Sessions
  • 5% Additional Payouts
  • Account Manager (Lifetime)
  • Daily Market reviews
  • Free eBooks
  • Free educational videos
  • Interest on Account balance
  • Starter Webinar
  • Strategy Webinar
  • VIP Webinar

In terms of bonuses, new account holders (except beginner accounts) are entitled to an additional trading capital bonus. The bonus amounts are as follows:

  • 50% for semi educational account
  • 75% for full educational accounts
  • 100% for semi advanced accounts
  • 100% for full advanced accounts

Deposits and Withdrawals

As for the funding of trading accounts, Magnum Options supports deposits by credit/debit cards, Neteller and Bank wire transfer. For withdrawals, traders may use their credit cards or go through a bank wire transfer. However, traders are only entitled to one free withdrawal per month and up to a maximum amount of $2000 per week. Subsequent withdrawals within the same calendar month are charged a $30 withdrawal fee. Withdrawal requests are processed once a week on every Thursday and takes up to 7 business days to be processed.

Customer support

The customer support service at Magnum Options is from 5am to 8pm (GMT) from Monday to Friday. Traders can contact the support team through email, live chat or by filling up the web contact form and requesting a call-back.

Extra features and resources

In terms of educational resources, Magnum Options does provide their clients with a fairly comprehensive resource centre. Traders have access to various webinars and academy sessions and ebooks to help them enhance their trading knowledge.

Verdict

Although Magnum Options is not regulated by any binary options regulatory bodies, its existence since it began its operations in 2020, proves that they are a legitimate broker. With their return on investment as high as 81% and deposit bonus of up to 100%, it is of little wonder why this broker is able to draw a loyal following of clients. If you are looking for a binary broker that can offer you above average returns, then Magnum Options might just be the right broker for you.

Pros

  • Generous trading Bonuses
  • High returns
  • Intuitive Platform
  • Multiple choices of trading accounts

Cons

  • No Telephone support
  • Unregulated
  • What Bonuses are available at Magnum Options?

Magnum options currently a bonus called “Extra Trading Capital” for educational and advanced account holders. The bonus amount ranges from 50% to 100%.

  • What are the payment methods supported by Magnum Options?

For deposits, credit/debit cards, Neteller and bank wire transfer are supported. For withdrawals, traders can either withdraw through their credit cards or through bank wire transfer.

  • What is the minimum deposit requirement at Magnum Options?

The minimum deposit requirement at Magnum Options is $200 for the Beginner account.

  • How long will it take to process a withdrawal request?

Withdrawal requests at Magnum Options are processed once every Thursday. Each request takes up to 7 days to be fully processed.

  • Is Magnum Options a safe broker to use?

Yes, Magnum Options is a safe broker. Its 4 years operational history proves that it is not a scam broker.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

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